DISABILITY INSURANCE

What is Disability Insurance?  There are types of Disability Insurance?                            What are our Government Disability Benefits?  How does it work?  Would it benefit you?
Disability Insurance, often called DI or Disability Income Insurance, or Income Protection, is a form of Insurance that insures the Beneficiary's earned income against the risk that a Disability creates a barrier for a worker to complete their normal core functions of their work.  For example, the worker may suffer from an inability to maintain composure in the case of psychological disorders or an injury, illness or condition that causes physical impairment or incapacity to work.  It encompasses Paid Sick Leave, Short-Term Disability benefits (STD), and Long-Term Disability benefits (LTD).  Statistics show that in the US a disabling accident occurs, on average, once every second.  In fact, nearly 18.5% of Americans are currently living with a disability, and it is estimated that nearly 1 out of every 4 persons (25%) in the US workforce will suffer a disabling injury before retirement (not necessarily a permanent disability). 

types of disability insurance

​1) Individual Disability Insurance

2) High-Limit Disability Insurance

3) Business Overhead Expense Disability Insurance

4) National Social Insurance Programs

5) Employer-Supplied Disability Insurance

       A) Workers' Compensation

our u.s. DISABILITY BENeFITS

In the US, Disability Benefits for most Americans are covered and paid by the Social Security Administration (a Government Agency). 

​There are two (2)main programs through the SSA; Social Security Disability Insurance (SDI) program and the Supplemental Security Income (SSI) program.  There is also a specific program for children with disabilities.  Learn more about how to apply for Social Security Disability Benefits.

A) Social Security Disability Insurance (SDI) provides benefits to individuals who have worked in recent years (usually at least 5 out of the last 10 years).

B) Supplemental Security Income (SSI) provides benefits to those who are low income individuals / families and have become disabled and are not able to work, whether or not the individual has worked in the past.  SSI child's disability benefits provides benefits to children who are under 18 years old, are disabled and the parents or guardians are having income difficulties.

your Insurance benefits and how does it work?

Disability Insurance replaces only a portion of an employee's income when they can't work because of an illness, injury or disability (the inability to do their normal required job tasks). 

For the most part, Disability Insurance will NOT replace all of the income.

Instead, Disability Insurance provides wage replacement benefits that cover, on average, up to 60% of an employee's earnings or income.
Call Western States Financial regarding Disability Insurance in order to discuss your potential needs.  Protecting your financial future is our goal and purpose.

Call us today @ (951)371-7608